Key benchmark indices could rise today, 26 December 2014. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could rise 6 points at the opening bell.
Reliance Industries before market hours today, 26 December 2014 said it has signed shipping agreements with one of the world's largest and reputed shipping companies MITSUI O.S.K. Lines (MOL) for transporting liquefied ethane from North America to India. MOL will supervise the construction of six very large ethane carriers (VLECs), ordered by Reliance. MOL will also operate and manage the vessels after they are built and delivered.
UltraTech Cement after market hours on Wednesday, 24 December 2014 in a clarification with respect to announcement dated 23 December 2014 regarding UltraTech Cement's acquisition of cement units of Jaiprakash Associates said that the board of UltraTech Cement approved the acquisition of 2 integrated cement units of Jaiprakash Associates in Madhya Pradesh as mentioned in the press release at an enterprise value of Rs 5400 crore. The Board also approved executing an Memorandum of Understanding (MOU), which was signed by the parties on 23 December 2014 after the board meeting. The transaction is subject to confirmatory due diligence, definitive agreements and regulatory approvals as may be required, UltraTech Cement said.
GlaxoSmithKline Pharmaceuticals (GSK Pharma) after market hours on Wednesday, 24 December 2014 in a clarification with regard to news item titled "CCI Gives Approval for Novartis-GSK Pharma Deal" said that the Competition Commission of India (CCI) approved the GSK - Novartis deal relates to the global deal between GlaxoSmithKline Plc ( GSK Plc ) and Novartis AG ( Novartis ). GSK Plc, an entity situated in UK indirectly holds shares of GlaxoSmithKline Pharmaceuticals ( GSK India ) and GSK India has not accepted any binding commitments in relation to the global deal. No filings and/or representations have been made by GSK India in the application for the approval filed by GSK Plc and Novartis. GSK India shall make all necessary disclosures as and when any obligation to do so arises under clause 36 of the listing agreement, GSK Pharma said.
Bata India after market hours on Wednesday, 24 December 2014 with regard to a news item titled "Crocs sues bata, other for design infringement" said that the subject matter is presently sub-judice before the Delhi High Court and hence, the company would not like to comment thereon. However, this is a routine operational litigation and the outcome thereof has no material impact on the business operations of the company, Bata India said.
Punjab National Bank said after market hours on Wednesday, 24 December 2014, that the board of directors of the bank at its meeting held on 23 December 2014, has approved the holding of EGM on 13 February 2015, for election of three shareholder directors of the bank and seeking shareholder approval for raising of equity capital by way of FPO/QIP/ESPS or in any combination thereof.
Reliance Capital said after market hours on Wednesday, 24 December 2014, that a meeting of the board of directors of the company will be held tomorrow, 25 December 2014, to consider a strategic long term alliance with a foreign partner, including inter alia a preferential allotment of a minority equity stake in the company.
Corporation Bank after market hours on Wednesday, 24 December 2014, announced that it has fixed 23 January 2015 as the record date for 5-for-1 stock split.
The Reserve Bank of India has on Wednesday, 24 December 2014, notified that the further purchases of shares of Gujarat State Fertilizers & Chemicals would be allowed only after obtaining prior approval of the Reserve Bank of India as foreign shareholding through foreign institutional investors (FIIs)/registered foreign portfolios investors (RFPIs) in the company has reached the trigger limit.
The Reserve Bank of India has on Wednesday, 24 December 2014, notified that further purchases of equity shares of Deccan Gold Mines would be allowed only after obtaining prior approval of the Reserve Bank of India as the foreign shareholding through non-resident Indians (NRI)/persons of Indian origins (PIOs) in the company has reached the trigger limit.
Key benchmark indices slumped on Wednesday, 24 December 2014, after data showing the fastest US economic growth in more than a decade bolstered the case for the US Federal Reserve to raise interest rates in the world's biggest economy. Investors are concerned that higher US rates will strengthen the dollar and cause inflows into emerging markets to slow. The S&P BSE Sensex lost 297.85 points or 1.08% to settle at 27,208.61. The CNX Nifty dropped 92.90 points or 1.12% to settle at 8,174.10.
Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 2,808.27 crore on Wednesday, 24 December 2014, as per provisional data.
Asian stocks were mixed today, 26 December 2014. Key benchmark indices in China, South Korea and Taiwan were up 0.09% to 1.10%. However, key benchmark indices in Japan and Singapore were down by 0.10% to 0.17%.
US markets remained shut on account of Christmas holiday on Thursday, 25 December 2014.
US stocks closed flat in a short session on Wednesday, 24 December 2014, as investors found few reasons to push major indexes to their sixth straight day of gains. The S&P 500 erased earlier gains and closed down less than a point at 2,081.88 in the Christmas holiday-shortened session, ending its five-day winning streak. But the Dow Jones Industrial Average eked out a 6-point gain to 18,030.21, closing at a record level.
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